AkzoNobel’s $25 Billion Megamerger: A New Global Paint Powerhouse Takes Shape

A global paints and coatings giant is set to emerge as AkzoNobel moves forward with its acquisition of Axalta Coating Systems. The merger will initially create a dual listing in Amsterdam and New York before transitioning to a single listing on the NYSE. Headquarters will be shared between Amsterdam and Philadelphia, reinforcing the group’s international identity. AkzoNobel’s chief executive Greg Poux Guillaume will lead the combined organization, emphasizing that the deal unites complementary technologies and enhances both scale and capabilities.

The merged company projects annual revenues of 17 billion dollars and adjusted core earnings of 3.3 billion dollars. Expectations also include generating 1.5 billion dollars in adjusted free cash flow. These targets reflect both operational strength and the anticipated benefits of broader market reach. A significant part of the strategy rests on capturing 600 million dollars in annual cost efficiencies, with 90 percent expected within three years after the merger closes.

Shareholders of both companies will see a restructured ownership model as AkzoNobel investors take a majority position at 55 percent, leaving Axalta shareholders with 45 percent. This structure signals balanced integration while clearly positioning AkzoNobel as the controlling party. The gradual shift to a single US listing is also designed to improve market visibility and liquidity.

The transaction is expected to be completed between late 2026 and early 2027. Once finalized, the combination will reshape the landscape of the global coatings industry, setting up a new contender with stronger scale, broader technology assets and increased financial firepower for future growth.